Applied Materials Raises Dividend by 23%, Adds $10 Billion to Buyback Plan

By Colin Kellaher

Applied Materials Inc. on Monday said its board raised the quarterly dividend by 23% to 32 cents from 26 cents, and approved an additional $10 billion in stock buybacks.

The new quarterly payout, equal to $1.28 a year, represents an annual yield of 1.12% based on Friday's closing price of $114.39, up from 0.91%.

The Santa Clara, Calif., maker of semiconductor equipment said the increased dividend is payable June 15 to shareholders of record as of May 25.

Applied Materials, which has about 845.1 million shares outstanding and sports a market capitalization of roughly $96.7 billion, said the new buyback supplements a prior authorization that had about $4.7 billion remaining.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 13, 2023 07:55 ET (11:55 GMT)

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